Improving living standards amidst falling oil prices among countries relying heavily on an ample supply of oil presents numerous challenges. Therefore, the relationship associated with oil price changes with identifiable metrics that explain standards of living becomes critical. The following issues are presented in this paper: the management of wealth; sustaining a standard of living; peculiar...

supply security of energy is one of the main challenges of industrialized countries in recent decades. also, it has been noted that in recent years other countries like new emergence asian countries and latin american countries, have understood the role and importance of energy. however, oil and gas have more importance for numerous reasons such as convenience availability, high thermal value a...

We use fiscal data on 2,468 oil extraction agreements in 38 countries to study tax contracts between resource-rich countries and independent oil companies. We analyze why expropriations occur and what determines the degree of oil price exposure of host countries. With asymmetric information about a country’s expropriation cost even optimal contracts feature expropriations. Near-linearity in the...